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UN slashes India growth forecast

business Updated: Jun 08, 2012 22:46 IST
United Nations

The United Nations has cut down its growth forecast for India for 2012, predicting a 6.7% growth rate against 7.7% predicted earlier, while listing euro debt crisis as the biggest threat to world economy.

In its World Economic Situation and Prospects mid-year update, the UN has said that the global situation continues to be challenging and global growth will likely remain tepid in 2012 following a marked slowdown in 2011.

The global economy is projected to grow by 2.5% in 2012 and 3.1% in 2013, following a growth of 2.7% in 2011, the report said.